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Bitcoin Price Update: $108K Breakout In Sight as RSI Hints at Final Bull Phase and Altcoin Surge
- Bitcoin retests the range high near $108K, crucial for confirming bullish continuation.
- Analysts predict Bitcoin's breakout or breakdown from the current range will define June's trend.
- The monthly RSI enters the overbought zone, indicating the peak phase of the bull run.
- Expectations for altcoin rotation and volatility if Bitcoin surpasses resistance levels.
- BTC price faces a retest near $108,386, a key level for maintaining the uptrend.
- Failure to hold above this level may lead to a pullback towards $99,638 or lower near $89,250.
- A move above the current monthly high could signal further upward momentum through June.
- Geopolitical tension and macro events continue to influence market sentiment.
- The monthly RSI for Bitcoin nearing overbought territory indicates the final phase of the bull cycle.
- During this stage, altcoins might outperform Bitcoin as capital rotates within the market.
- Traders expect significant volatility and potential new highs in the coming months.
- Despite short-term fluctuations, Bitcoin hovers around critical resistance levels.
- External factors play a crucial role in shaping BTC's future direction.
- Analysts closely monitor global developments and investor behavior for market clues.
- June is seen as a pivotal month where BTC movements could dictate the next major trend.
- The article covers Bitcoin's price retesting, RSI signals, and expectations for altcoin surge amid potential breakout.
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